China 2013 crude imports hit new high, growth decelerates

SINGAPORE (ICIS)--China’s imports of crude oil rose by 4% to a hit a new high of around 282m tonnes in 2013, preliminary data from China Customs showed on Friday.

This is a drop from the 6.8% year-on-year growth seen in 2012, the data showed.

China’s crude imports in December, meanwhile, surged by 13.1% on year to 26.78m tonnes, it showed.

Further downstream, the country’s imports of primary shape plastics increased by 3.9% to 24.6m tonnes in 2013, while that of ABS resins rose marginally by 0.2% to 1.7m tonnes last year, it said.

Imports of polyester chips rose by 3.3% to around 189m tonnes, the data showed.

Last year, the world’s second-largest economy registered a 7.6% gain in foreign trade, posting a 7.9% expansion on exports and 7.3% rise on imports. Its trade surplus in 2013 was about $260bn, up from $231bn in the previous year.